Global Allantoin Market Analysis By Application And Segment Forecasts To 2022

Date: 2016-01-04

Global Allantoin Market is expected to reach USD 641.7 million by 2022. Growing application scope of allantoin in pharmaceutical industry is anticipated to drive market growth over the forecast period. Growing demand for allantoin in personal care products including toothpaste, mouth wash, shampoos and conditioners is anticipated to augment allantoin market growth over the next seven years. Furthermore, capacity expansions by key raw material suppliers owing to increasing demand for glyoxylic acid in allantoin production coupled with forward integration of suppliers in the value chain is likely to propel demand.

Rising industrialization in Asia Pacific, particularly in India, China and Indonesia, coupled with increasing disposable income is expected to drive allantoin market demand over the forecast period. Growing demand from pharmaceutical sector for treating bone fractures, ulcers, acne and healing wound owing to its ability to promote cell proliferation is likely to have a radical impact on allantoin industry growth over the past few years. However, global allantoin industry may be restrained on account of lower consumer awareness regarding the potential benefits of allantoin and imposed ban on use of comfrey extracts.

Cosmetic application was the largest segment accounting for 33.7% of global allantoin market
revenue in 2014. Rising popularity of allantoin, owing to its moisturizing property and keratolytic (skin-softening) effect, is expected to increase demand for manufacturing numerous cosmetics, including deodorants, aftershave lotion and foot care creams owing to its emollient and anti-irritant properties is likely to positively affect allantoin market growth, particularly sunscreens and moisturizers.

Key participants in the allantoin market include Ashland, Clariant, Rita Corp., Akema, Huanghua Suntime Chemical Industry Co., Ltd., Allan Chemical Corporation, Sunwell Chemical Co., Yizhang Hongyuan Chemical Co., Ltd, EMD Performance Materials Corporation, and Lubon Industry Co., Ltd. Akema produces a variety of grades such as Allantoin CTFA, Allantoin USP, Alcoxa, Aldioxa and Almeth for applications including cosmetic, pharmaceutical and personal care industry.

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